I work for one of the majors who were thrown out of Lybia in 1982 when Omar Khadafi nationalized the fields. I was on a team that returned for several weeks in November 04 to review both reserve potentials and overall condition of abandoned U.S. equipment, as part of the comany assessment process. I can assure this board the fields are in total ruin. In the ensuing years the French tried to run things under contract but soon ran out of necessary components only manufactured here in the states. Understandably Regan slapped an embargo on U.S. goods bound for Lybia. Bottom line - the place is in total need of rebuiling. My opinion is that SLB will be a major provider, but there is enough reconstruction there to keep all U.S. contractors busy for ten years. You won't see any of it hitting the SLB books until 07 simply because of legal issues. There is also reluctance of the majors to commit to huge contracts simply because of the unpredictable political whims of Khadafi. From what I understand he's also trying to bleed the majors for far more royalty this time - to the point where only limited progress is being made. If things work out, there is enough business over there keep SLB busy (and everyone else in the field) for many years to come.
Hey cabbage farmer, hear me hear me, I spent a cool 13 years with oxy in Libya. You are the first report I have seen on the place since I left. I had 2 boys in OCS, went to notra dame -rome for hi school. I am copying your report to show to my sons. The older is a p.e with b.p, was with amoco. There is an outside chance I may know you. Do you ever go to the tripoli reunions, held in san antonio this year.? regards, jk
now pliss tell us what to do about the whining and bitching you so gloriously lead us in for the past few years..
u've gone strangely silent since $65.. and the incompetent enemy is now running at $84 with the $100 firmly in sight!!!!!!?????????? is all lost...
help us el presidente... remind us how incompetent SLB is... tell us how customers hate their service and performance... tell us how shite their technology and their people are..
pliss el presidente .. we are sinking here... and your silence in these times makes you look like an uninformed gutless moron who can dish it out but cannot take it on the chin when proved wrong .. by the bottom line
our friends are are deserting us .. the ones who so happily took a communal dump on SLB not so long ago are now nowhere to be seen..
it is time to rally the troops senor .. remember the alomo... tallo ho... once more into the breach...
or else.. lets just die the inglorious pipsqueek death whiners like you and we deserve..